Your search for the best 5 high-potential cryptos to invest in 2022 ends here.
With thousands of cryptocurrencies on the market, it can be hard to decipher between a promising project with long-term growth potential and quick cash grabs that will not last through a bear market.
Considering a cryptocurrency's market cap, development team, market position, and future price potential, we have compiled a list of 5 high-potential growth cryptocurrencies to buy in May 2022 and beyond.
1. Ethereum (ETH)
Ethereum’s first-mover advantage in DeFi and the NFT space makes it a high-potential growth cryptocurrency to buy in May 2022.
Although far newer than Bitcoin, Ethereum burst onto the scene in 2015 and earned a spot as the undisputed second-fiddle to BTC over the years. The innovation of the Ethereum network was to bring the capability of smart contracts and the burgeoning field of decentralized finance (DeFi) into play.
DeFi is an expansive area of finance defined by the lack of traditional financial intermediaries. It theoretically allows for trustless peer-to-peer financial transactions, cutting out third parties and saving users time, money, and hassle.
Notably, most non-fungible tokens are also built using Ethereum's network. So, an influx of NFT buyers could increase the price of Ether. NFTs are bought and sold using Ethereum; the more investors that purchase NFTs, the more demand there may be for ETH, making it a high-potential crypto must-have.
2. Terra (LUNA)
Terra’s role in the growing DeFi ecosystem makes it one of the top 5 growth cryptocurrencies in May 2022.
The Terra blockchain supports a decentralized finance ecosystem in which price stabilization algorithms maintain price stability for its crypto token, LUNA. Terra gives users access to a large array of DeFi applications and has become one of the top growth cryptos out there.
The LUNA token's value is directly related to the adoption of Terra-based stablecoins like UST, which is pegged to the USD. When there is more demand for UST, LUNA tokens are burned, increasing the value of each token.
There are around 3.5 million unique Terra wallet addresses, compared to about 900,000 at the beginning of 2020. That works out to nearly 400% user growth in two years. Terra has gained a lot of traction in this time frame. Many people are already using Terra and the stablecoins in its ecosystem every day, adding to its already high-potential value. For example, Chai, a South Korean wallet app founded by Terra co-founder Do Kwon, has over 2.5 million users. These customers and merchants are already using UST for payments at over 50 e-commerce outlets and even some offline locations in South Korea.
3. Ripple (XRP)
Ripple seems to have the upper hand in its lawsuit against SEC, making XRP a high-potential growth cryptocurrency to invest in 2022.
XRP is an open-source cryptocurrency that uses an open-source distributed ledger called XRP Ledger. It was developed by Ripple, an enterprise blockchain company that facilitates global transactions. Ripple says XRP was built for payments and can settle transactions faster, more reliably, and at a lower cost, making XRP one of the top 5 growth cryptos.
XRP appears on an increasing number of global exchanges and has been embraced by some financial institutions. The company also insists it has a “growing pipeline” of businesses interested in using XRP in their payment flows.
Ripple’s high speed makes it a preferred choice for most banks as people demand faster transactions. It is poised to become an integral technology in bank money transfer systems. So, investing in XRP now can boost your chances of success.
Notably, Ripple is currently embroiled in a lawsuit brought by the US Securities and Exchange Commission, which alleges it engaged in unregistered securities trading. However, a new lawsuit by a government watchdog group alleging that SEC officials are biased against Ripple and XRP could help resolve the suit against Ripple in investors’ favour. These factors make XRP one of the best growth cryptocurrencies with high potential.
4. Dogecoin (DOGE)
Dogecoin is considered the top high-potential growth cryptocurrency, priced at $1.
Dogecoin existed as a mere joke cryptocurrency for several years and was traded for less than a penny. But by 2021, the Shiba Inu-themed coin found its place on several major cryptocurrency trading platforms. Eventually, the token won over the trust of numerous established investors who realized that it was not just a Ponzi scheme.
Notably, Dogecoin is an open-source digital cryptocurrency and is widely supported by many wallets and exchanges. Despite its humorous nature, Dogecoin has the potential to be a viable financial opportunity.
The token has had an exciting journey with its fair share of ups and downs this year. Nevertheless, DOGE has evolved into a potential project and has donated hundreds of thousands of dollars to various social causes. The Dogecoin community is growing fast, and investing in this growth cryptocurrency right now could allow you to retire as a millionaire.
5. Apecoin (APE)
Consider investing in APE to diversify your crypto portfolio.
After the success of ApeCoin, the team behind the Bored Ape Yacht Club produced ApeCoin (APE). ApeCoin is the governance token for the ApeCoin DAO. It serves a vital role in enabling users to vote and create AIPs. Notably, ApeCoin is an ERC-20 token that can be traded on popular DEXs like SushiSwap.
The ApeCoin DAO operates as the decentralized governance framework that supports the Ecosystem Fund. This community governance system was created to provide a more democratic and transparent experience to Bored Ape Yacht Club token holders and fans. Various such factors make APE one of the top growth cryptos with high potential out there.